Have any of these food delivery companies actually reached profitablity?
What's the endgame?
DoorDash removing 1-year cliff for equity grants
91–100 of 283 posts
Re: DoorDash removing 1-year cliff for equity grants
#92Earlier quoted context omitted.
I mean, what sort of compensation are you offering? Also - I'm talking about last year, not now. But I am recently out of college and have not even passed resume screen by a few companies despite referral, credentials, etc.
We’re not a big tech company, so comp isn’t quite what it is at Amazon, FB, etc. but, it’s solid. 100k+ salary, annual grant of restricted stock units, good health and other benefits etc. Having said that, there’s a contradiction in claiming that college grads can’t find jobs while suggesting that a company offering six figures can’t find people because of comp.
> while suggesting that a company offering six figures can’t find people because of comp.
Never said that - but if you had answered $50k, I probably would have!
I'm surprised you are having trouble hiring people - but perhaps if you are in the Bay and hiring new grads, they might be surprised when it is in the low $100ks.
Re: DoorDash removing 1-year cliff for equity grants
#93This is great!
Allows bad-fits to leave asap rather than hanging around till 366 days
Re: DoorDash removing 1-year cliff for equity grants
#94Earlier quoted context omitted.
Am I the only one that doesn't see that as unreasonable? It's not like you aren't accruing equity during that time; you still get the full year's worth of options at the 365 day mark. And the ramp-up time with new engineers can be so long that the first year isn't nearly as productive as consecutive ones. A buddy of mine who worked at a giant company (not strictly tech but you'd recognize it) said he heard from his b…
Reward? They only join in the first place because of the expected total compensation.
But it's not like the one year cliff is a hidden detail that you don't find out until you join; employees have all the information up front. If you choose to take the job anyway, you know that your compensation will be lower if you leave within the first 365 days, so if you still choose to leave, that's on you.
Re: DoorDash removing 1-year cliff for equity grants
#95Does DoorDash also grant RSUs based on fixed bonus amount and not number of shares? It's hard to believe this would be pro-employee. https://www.teamblind.com/post/Lets-Boycott-Interviewing-at-...
I think it's common in the industry to see RSU grants shown as say, "$50k" - but that's $50k in stock as of the grant time. Once the grant is finalized, the value of the RSU grant grows with the stock. ie, if the stock is $100, then it's the same as 500 share grant. This Blind post is saying that Instacart/Stripe says you only get $50k no matter the price of stock? How would you even structure that kind of grant? Why…
Because that 50k isn't necessarily exercised immediately and means that you are potentially going to benefit from a rising stock price.
Re: DoorDash removing 1-year cliff for equity grants
#96Not surprised. I'm probably a fair bit older than the average HN reader (finished undergrad in 1995). This is the hottest job market I've seen since the height of the dotcom bubble (mid 1999 to early 2000), and if it continues along it's current trajectory it will pass that by year end.
Browsing /r/cscareerquestions it looks like entry level folks are having a hard time breaking into the industry. Employers are mostly recruiting senior levels it seems.
There are a surprising number of people who graduate CS/CE without writing any meaningful amount of code.
To me a decent junior should be able to build a basic Hacker News.
There are a lot out there who have never done so much as make a web page with more than copy/pasted Jquery and expect to get jobs.
Re: DoorDash removing 1-year cliff for equity grants
#97Earlier quoted context omitted.
I work at a smaller company, and here we convert the $ price to a number of shares by taking the 100 day VWAP of the stock from the date of the board meeting where your grant is approved.
Either we work at the same place or that’s very common. When I joined I got a random email that said “your rsu $ to shares conversion was X shares and here’s your schedule” and my schedule is all in # of shares not $
This is very common. It's basically the point of paying in RSUs and not in fixed dollars, to give employees incentive to care about the company/stock performance.
Re: DoorDash removing 1-year cliff for equity grants
#98It looks like DoorDash just put up a big banner at their front door saying if you want to stay less than a year and still get paid highly apply here. Wouldn't this move incentivize employees seeking short term employment thus diluting stocks given out to existing long term employees?
The number of people looking for full-time jobs and intending to only work for 3-9 months is way less than you think.
Re: DoorDash removing 1-year cliff for equity grants
#99With Google doing front loading(33/33/22/11) and other companies also shifting away from conventional 25% per year vesting to make first few years more attractive, they gotta catch up to stay competitive. Uber recently did the same of removing cliff.
Source on Google doing front loading?
Re: DoorDash removing 1-year cliff for equity grants
#100Does DoorDash also grant RSUs based on fixed bonus amount and not number of shares? It's hard to believe this would be pro-employee. https://www.teamblind.com/post/Lets-Boycott-Interviewing-at-...
It's number of shares based on when you joined. It is the original format as 1-yr cliff but now you just get your stock faster.